Choreo LLC Invests $239,000 in Textron Inc. (NYSE:TXT)

Choreo LLC acquired a new stake in Textron Inc. (NYSE:TXT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,791 shares of the aerospace company’s stock, valued at approximately $239,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 9,692 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Textron during the fourth quarter worth approximately $922,000. Studio Investment Management LLC acquired a new position in Textron during the fourth quarter worth $1,223,000. Portfolio Design Labs LLC purchased a new stake in Textron in the 4th quarter valued at $3,140,000. Finally, SG Americas Securities LLC grew its holdings in Textron by 461.1% in the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after buying an additional 96,361 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on TXT shares. TD Cowen boosted their price target on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Citigroup raised their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Textron Price Performance

TXT stock opened at $88.94 on Friday. The business’s fifty day moving average price is $88.80 and its 200 day moving average price is $89.33. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.66 billion, a PE ratio of 19.00, a P/E/G ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.